Head of Internal Audit

US-IA-Des Moines
Job ID
212403
Category
Internal Audit
Requires Non-Compete?
Yes

Job Summary

Wellmark is currently recruiting for a Director of Internal Audit Services to join our team!  Reporting to the Vice President of Audit Services, this position is a great opportunity for someone passionate about leading and developing a team and managing risk for the organization!  

 

The Director of Internal Audit Services bears primary responsibility for developing and implementing a risk-based internal audit program for Wellmark, Inc. in response to the requirements of the Audit Committee of the Board of Directors. You will be responsible for leading and managing Wellmark's internal audit services program and identify, assess, evaluate and recommend mitigation techniques and monitor risks from a strategic, financial, operational, information technology, and external perspective. You will be responsible for providing direction to the Company for the ongoing compliance with Section 16 of the National Association of Insurance Commissioners Annual Financial Reporting Model Regulation (i.e., Managements Report of Internal Control over Financial Reporting) and oversees the team designated to assist business units with documentation, identification, implementation and testing of internal controls over financial reporting.

 

Core Competencies:

  • Accountability: Owning and taking responsibility for one’s actions.
  • Business Acumen: Understanding industry, market, financial and company specific operations.
  • Collaboration and Communication: Working together; listen to other’s ideas; communicate accurately and concisely.
  • Decision Making: Consider all facts and impacts when making decisions.
  • Focus on the Customer: Consistently doing what is in the best interest of our customer. Leaving a positive impression on the customer by elevating their experience; making it simpler and educating to helping them understand.

Minimum Qualifications Required (all must be met to be considered)

  • Bachelor’s Degree in related field
  • Minimum 10 years of experience including:
    • Knowledge and experience that encompasses an understanding of the organization, its industry, and risk management techniques
    • Demonstrated understanding of the relationship between risk, controls, and cost
    • Demonstrated knowledge and understanding of auditing practices and all pertinent professional auditing standards, including SOX 404 knowledge and GAAP/SAP concepts
  • Demonstrated communication skills with experience delivering senior leadership and/or Board of Director presentations, expressing complex concepts clearly and concisely
  • Demonstrated leadership experience, including building and developing a high performing team, adapting your style to each employee
  • Ability to influence and solicit cooperation and action from others
  • Demonstrated ability to collaborate with business areas to educate and gain understanding and buy-in
  • Ability to think strategically, while at the same time have a detailed understanding of the audit plan



Hiring Specifications Preferred

  • Master’s Degree
  • Prior public accounting or consulting experience
  • Prior experience in the healthcare industry
  • Professional Certification (e.g. Certified Fraud Examiner (CFE), Certified Information Systems Auditor (CISA), Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Fellow, Life Management Institute (FLMI))

Job Accountabilities

a. Provide the strategic direction and leadership for a team that supports Wellmark and divisional strategy and goals. Cascades and communicates strategy and initiatives to team members, driving customer/stakeholder service, and supporting achievement of overall company results.

b. Provide day-to-day leadership of financial and human resources, primarily focusing on employee and leader coaching, development, performance improvement, coordination and budgeting for multiple staff, and department specific functions/services.

c. Lead, define and support business objectives and produce results that are effective, accurately, timely, and meet or exceed stakeholder needs. Works collaboratively with senior leadership to identify ways to continue to improve Wellmark's environment and culture. Ensures resources are effectively and efficiently deployed by monitoring workflow and prioritization of work as appropriate. Recommend and influence strategies and process changes to resolve audit and compliance issues.

d. Conduct an annual risk assessment, create an annual Master Audit Plan (MAP) and present the plan to the Audit Committee for their approval. Once the MAP has been approved, oversee the execution of Wellmark's MAP.

e. Present quarterly to the Audit Committee of the Board of Directors and the Compliance Committee as necessary. Understand and meet and Committees requirements around internal audit reporting. Meet quarterly with the Audit Committee of the Board of Directors, the Chair of the Audit Committee and the CEO to discuss risks, controls and action plan status.

f. Demonstrate the ability to obtain commitment and consensus from others through effective communications, compromise, and interpersonal behaviors without the managerial control of people and resources. Exhibit organizational agility based upon an understanding of how departments function. Maneuver through complex business obstacles effectively and obtain desired changes.

g. Build relationships with all levels of management and influences management to develop resolutions that manage risk. Handle conflict appropriately. Demonstrate the ability to take an unpopular stand to address high risk issues.

h. Provide leadership and direction in support of the Company's implementation of and ongoing compliance with the National Association of Insurance Commissioners (NAIC) Annual Financial Reporting Model Regulation Model Audit Rule. Determine appropriate actions by analyzing and understanding Wellmark's internal and external financial statements and the requirements of the NAIC Model Audit Rule and overseeing the team who assists business units with documentation, identification, implementation and testing of internal controls.

i. Provide direction and oversight for complex level operational audits, including coverage of core business transactions such as claims, membership & enrollment, and customer service. Stays up to date with emerging risk issues facing the organization from an operational perspective.

j. Provides oversight and quality review of reports summarizing audit findings and discusses results with business units and other stakeholders. Negotiates and develops appropriate corrective action plans in collaboration with the business units and senior leadership. Builds and enhances productive client relationships.

k. Analyze the Internal Audit Department for efficiencies and best practices and makes recommendations for improvement. Refine departmental policies and procedures. Stay up to date with internal audit best practices and apply knowledge to Wellmark, Inc. Ensure department complies with International Standards for the Practice of Internal Auditing. Some departmental projects may require research and development of new technology.

l. Serve as the lead point of contact with Wellmark's external auditors in regard to assigned financial and SSAE16 report work, including scheduling of work, periodic status updates, and quality review of worked performed by internal auditors and performance auditors.

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